More than 100 million American households have money in bank accounts protected by the FDIC. The agency’s chairman, Martin Gruenberg, is facing calls to resign after a recent audit and major news investigation found serious problems with the FDIC’s workplace culture.

Martin Gruenberg, head of the Federal Deposit Insurance Corporation, will step down following a scathing independent investigation detailing pervasive sexual harassment, discrimination and bullying at the agency charged with regulating the banking sector.